With the approval of the CPC Central Committee and the State Council, China Energy Investment Corporation (China Energy) was formally established on November 28, 2017, following the merger of China Guodian Corporation and Shenhua Group, both Fortune Global 500 companies. Ranked 101st among the Fortune Global 500 in 2018, the company is a backbone state-owned enterprise (SOE) directly under the central government and a pilot enterprise for the reform of companies invested by state-owned capital.
The establishment of China Energy represents the largest restructuring of centrally-administered SOEs since the founding of the People’s Republic of China in 1949. It is the first centrally-administered SOE to be reorganized after the 19th CPC National Congress. Operating eight business segments including coal, thermal power, new energy, hydropower, transportation, chemical industry, environmental technology and finance, China Energy is world’s largest producer of coal, thermal power, wind power, coal-to-liquid fuels and coal chemicals.
China Energy has 1.8 trillion yuan in assets and a staff of 350,000 employees. As of the end of 2017, its production capacity of coal had reached 480 million tons, and the total installed capacity of power hit 226 GW, including 175 GW from thermal power, accounting for around 15 percent of the national total. It is the world’s only company capable of turning millions of tons of coal directly and indirectly to liquid fuels. The company operates a network of railways with a total length of 2,155 kilometers, 62 ships and ports with a designed handling capacity of 247 million tons.
Under the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, China Energy is committed to studying the guiding principles of the 19th CPC National Congress, implementing the decisions and plans made by the CPC Central Committee and the State Council, and striving to build itself into a world-class energy conglomerate with global competitiveness.
The Party Leadership Group of China Energy has established a corporate development strategy system with one overall strategic goal, one fundamental political principle, six core philosophies and nine corporate management strategies.